SECTION 4. APPLICABILITY AND
Internal Revenue Bulletin 2020-40 · 2026-10-03 edition · updated 2026-10-04 · United States
IMMEDIATE RELIANCE
The proposed revenue procedure is proposed to apply to taxable years beginning after December 31, 2017.
Until the date on which the proposed revenue procedure is published as a revenue procedure in the Internal Revenue Bulletin, taxpayers may rely on the safe harbor described in the proposed revenue procedure for purposes of determining whether a qualified residential living facility, as defined in section 3.01 of the proposed revenue procedure, is eligible to be an electing real property trade or business solely for purposes of section 163(j).
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